Nov 13 (Reuters) - Corn cash basis bids were steady to
higher around the U.S. Midwest on Wednesday, supported by slow
sales as farmers put freshly harvested bushels in storage in the
hopes of selling at higher prices later, grain merchants said.
* Soybean bids eased 5 cents per bushel at an elevator in
Des Moines, Iowa, following a spike in sales in recent days
after cash prices rose above the psychological threshold of $13
per bushel at several processors and elevators.
* Inverted soybean futures , compared to the carry in
corn futures , also encouraged immediate sales as farmers
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* Corn sales that increased early this week amid a bounce in
futures have since slowed even as strong profit margins at
ethanol plants and strong export demand bolstered bids in the
cash market.
* The corn basis gained as much as 7 cents per bushel on the
mid-Mississippi River in Davenport, Iowa, and also firmed at a
northern Indiana elevator and rail terminals in the eastern
Midwest.
* U.S. Agriculture Department data late on Tuesday showed
the corn harvest at 84 percent complete and the soybean harvest
91 percent done, with each roughly in line with the five-year
average.
Basis values are quoted against CBOT futures in cts/bu:
Current Previous
Bid Bid
Chicago, Illinois
Corn processors +8 + Z +10 + Z DN 2
Corn elevators -5 + Z -5 + Z UNC
Soybean elevators +5 + F +5 + F UNC
Wheat elevators +0 + Z +0 + Z UNC
Wheat processors -10 + Z -10 + Z UNC
Decatur IL corn +10 + Z +10 + Z UNC
Decatur IL +20 + F +20 + F UNC
soybeans
Burns Harbor IN -24 + Z -27 + Z UP 3
corn
Burns Harbor IN -6 + F -6 + F UNC
soy
Lafayette IN soy +7 + F +7 + F UNC
Toledo OH (port)
Corn -22 + Z -22 + Z UNC
Soy +15 + F +15 + F UNC
SRW wheat -13 + Z -13 + Z UNC
Davenport IA
(river)
Corn +1 + Z -6 + Z UP 7
Soy +1 + F +0 + F UP 1
Evansville IN
(rail)
15-car CSX corn +3 + Z +2 + Z UP 1
Cincinnati OH
(rail)
3-car corn -5 + Z -11 + Z UP 6
Hereford TX corn +95 + Z +95 + Z UNC
Columbus OH (rail)
3-car corn -5 + Z -11 + Z UP 6
Morris IL (river)
Corn -21 + Z -22 + Z UP 1
Soybeans +5 + F +5 + F UNC
Fort Worth TX corn +120 + Z +120 + Z UNC
Blair NE corn +5 + Z +5 + Z UNC
Council Bluffs, IA (elevator)
Corn -10 + Z -10 + Z UNC
Soy -15 + F -15 + F UNC
Des Moines IA soy -20 + X -15 + X DN 5
Sioux City IA soy -15 + F -15 + F UNC
NOTE: 0 = option price, UNC = Unchanged, UNQ = Unquoted,
NC = Not comparable, DP = Delayed Price, X = November,
Z = December
---------------------------------------------------------------
LINKS:
For U.S. forward basis spreadsheets, please double-click on:
- CBOT corn report
- CBOT soybean report
- CBOT wheat report
- U.S. grain barge freight values
- U.S. Midwest cash grain PM
- U.S. CIF Gulf Grain
- U.S. FOB Gulf Grain
(Reporting by Michael Hirtzer in Chicago; Editing by Grant
McCool and Andre Grenon)
U.S. Cash Grains-Corn bids firm on slow sales, soy flat
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